This is correct, yes. But you will NOT see that unless the 2700 and 2300 players are grouped together, OR the online player count is so low that it has to do that. That’s how you got the XQC and Bronze on the same team clip on Twitch that one time. He was not thinking straight and immediately queued for comp the very second after maintenance was over, and the game he ended up in was basically the very first 12 people after maintenance to press the “Competitive Play” button on the menu in the NA Region.
What Cuthbert has been saying is something totally different. He has been saying that you have your SR, but you also have a hidden MMR that differentiates between “good” and “bad” players at the same SR. While it is correct that you have a hidden MMR, it is 100% false to say that MMR is a differentiator between “good” and “bad” players at the same SR, considering everything Kaawumba compiled into his topic about Competitive Matchmaking (How Competitive Matchmaking and Rating Works (Season 19)), and especially in light of the video that reveals that MMR ranges from -3 to 3 (technically you can go slightly below -3 and go above 3), and that those are standard deviations from the mean rank of 0.
Where the SR/MMR decay talk starts, but the relevant part is at 1:13:30